The financial innovations that lead to the 2008 financial crisis return with the prospect of inflating another painful housing bubble and crash.
By Jacobim Mugatu, May 21, 2014
Proverbs 26: 11
As a dog returns to its own vomit, so fools repeat their folly
It was inevitable. Cajoled by the real estate street preachers with their fever swamp sermons of “buy now, before rates go up!â€, endlessly tempted by 24/7 remodel / flip porn on nearly every channel, all the while simmering over how the lucky few who bought in 2010 are watching their equity rise, home buyers today are rushing headfirst back through the looking glass, into a 2005-2006 style market of inflated values and crap inventory to pick from. They aren’t the only ones. Lenders have begun to race down that same road to ruin and I’m afraid it’s going to end the same way as it did before: tearfully.
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http://ochousingnews.com/blog/resurection-dead-mortgage-programs/
The financial innovations that lead to the 2008 financial crisis return with the prospect of inflating another painful housing bubble and crash.
By Jacobim Mugatu, May 21, 2014
Proverbs 26: 11
As a dog returns to its own vomit, so fools repeat their folly
It was inevitable. Cajoled by the real estate street preachers with their fever swamp sermons of “buy now, before rates go up!â€, endlessly tempted by 24/7 remodel / flip porn on nearly every channel, all the while simmering over how the lucky few who bought in 2010 are watching their equity rise, home buyers today are rushing headfirst back through the looking glass, into a 2005-2006 style market of inflated values and crap inventory to pick from. They aren’t the only ones. Lenders have begun to race down that same road to ruin and I’m afraid it’s going to end the same way as it did before: tearfully.
Source: http://ochousingnews.com/blog/resurection-dead-mortgage-programs/#ixzz32M8M5wyP
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